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SBIN | Triangle pattern observed

NSE:SBIN   STATE BK OF INDIA
Triangle pattern observed in SBIN. Pattern looks to have confirmed suggesting a bearish outlook. Target depth of triangle is around 25 points. With confirmation of pattern occurring at 347.50, Target of the pattern comes in at 322.70. A retracement towards the pattern before further weakness cannot be ruled out. Notice that 334 could offer a good support.
Comment: Do note that the stock is trading at Monthly resistance level.

Comments

I also had a bearish outlook with a stop at 340 on a closing basis ...
+1 Reply